Latest finance news – Page 174
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NewsAngling Direct swings to loss and blames winter flooding and store acquisitions
Specialist retailer Angling Direct reported a net loss before tax for the last financial year, which it blamed on new store acquisitions and a disappointing post-Christmas trading period.
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NewsTed Baker founder Kelvin halves stake in fundraising bid
Ted Baker’s founder Ray Kelvin has slashed his stake in the business by 55% as investment firm Toscafund surpasses him as the company’s largest shareholder.
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NewsCard Factory full-year profits fall as it prepares for phased reopening
Card Factory has reported a drop in its full-year profits despite an increase in sales in a “challenging” year.
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NewsAldo falls into administration amid coronavirus troubles
The UK division of Canadian footwear specialist Aldo has collapsed into administration, blaming its travails on the impact of the coronavirus pandemic.
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NewsTed Baker launches fundraising to drive recovery after profits collapse
Ted Baker has reported a plunge into loss last year and unveiled a fundraising to enable a return to growth.
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NewsEve Sleep hails ‘improving trading’ patterns despite lockdown
Eve Sleep has hailed “improving trading” patterns during April and May following initial “disruption” sparked by the coronavirus crisis.
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NewsB&M sales surge as DIY and gardening demand spikes in lockdown
B&M has posted a jump in sales during lockdown, driven by “exceptionally strong” performance in grocery, DIY and gardening categories.
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NewsMonsoon Accessorize teeters on brink putting 3,500 jobs at risk
Monsoon Accessorize is on the brink of becoming the latest retailer to tumble into administration amid the coronavirus crisis, putting 3,500 jobs at risk.
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NewsMcColl’s appoints new chief financial officer as it bolsters board
McColl’s has made new appointments to its executive and non-executive board including Giles David as chief financial officer.
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NewsBoohoo snaps up remaining stake in PrettyLittleThing
Boohoo has acquired the minority 34% stake to wholly own PrettyLittleThing shortly after mounting a defence of its ownership of the brand against a short-seller attack.
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NewsCoronavirus takes toll on retail property giant British Land
Meadowhall owner British Land has reported a fall in valuations and retail rent as the coronavirus pandemic piled pressure on annual performance.
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NewsScS ‘well positioned’ to navigate coronavirus as it reopens stores
ScS has said it is “well positioned” to survive the ongoing coronavirus crisis after it reopened 80 stores and its distribution network for deliveries in England.
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NewsBurberry cautions post-pandemic recovery will take ‘some time’
Luxury goods retailer Burberry anticipates a potentially lengthy period before business returns to normal.
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NewsMoss Bros and Crew Clothing owner wrangle over deal
Men’s fashion specialist Moss Bros and former suitor Brigadier Acquisition Company are both seeking to defend their positions over their deal-gone-sour.
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NewsVictoria’s Secret takes axe to store estate
US lingerie giant Victoria’s Secret is to shut a quarter of its stores in its home market of North America following the collapse of sales hopes.
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NewsUsing furlough scheme is ‘moral judgement’ for retail, says Pets at Home boss
Pets at Home chief executive Peter Pritchard has said retailers with strong liquidity should think carefully before using the government furlough scheme.
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NewsPets at Home full-year profits rise as sales surpass £1bn
Pets at Home has reported a surge in its full-year profits and sales but warns that coronavirus costs will impact its bottom line in the year ahead.
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NewsTesco, Sainsbury's and Co-op win ATM business rates legal dispute
A number of supermarkets including Tesco, Sainsbury’s and the Co-op have won a legal ruling on whether they should be liable for business rates on cash machines located on their premises.
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NewsMajestic Wine expands tie-up with Deliveroo
Majestic Wine has announced an expansion of its partnership with Deliveroo, both in terms of delivery locations as well as range.
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NewsMarks & Spencer profits tumble as coronavirus hits bottom line
Marks & Spencer has reported falls in group sales and profit before tax, largely blaming the ongoing coronavirus pandemic for burying green shoots of promise.